Principal Amount: $53,000.00 Issue Date: January 23, 2014
  
 CO N VE R T IB L E P R O MI S S O RY  N OT E
 
 F O R V AL U E R EC EI V E D ,  EX C E L S IS  I NV E S T M E N T S ,  I N C. , A S H ER  E N TE R P RI S ES,  I N C . ,
 
 
 
 
 
  
  
  
 C o nvers i o n  R i gh t prov i de d ho w ev e r prov i ded f u r t her ho w ever p l us p l us p l us
 
 
  
 
 
 
 
 C onv e r s i on  Pr i ce.
 
 Ca l cu l a t i on  o f  C onvers i on  Pr i ce
 
 C o nvers i o n  Pr i c e  D u r i ng  M a j or  A nno u nce m en t s.
 
 
  
 A u t hor i z ed  Sh a r e s
 
 
   M e t h o d  of  C o nvers i o n.
 
 Mech a n i c s  of  C onvers i on.
 
 Surren d er  of  N o t e  U pon  Con v e r s i on. sha l l  , pr i m a f ac i e,
 
 
 
 
 
 Pay m ent  of  T axe s
 
 De li very  of  C o mm on  S t ock  U p on  Co n ver s i on.
  
 O b l i ga t i o n  of  Borro w er t o De li ver  C o m m on  S t o ck.
 
 
  
 
 
 
 
 D e l i v e r y  o f  C o mm on  S t ock  by  E l ec t ron i c  Transfe r .
 
 Fa i l u r e  t o  D e l i v er  Co mm on  S t ock  P r i or  t o  D ead lin e.
 
 Co n cern i n g  t he  S h a r e s
  
  
 
  
 
 
 
 
  
 E ffect of  Cer t a i n E ven t s.
 
 E f fect of  Merger,  C o nso l i da ti on,  E t c.
 
 
  
 
 
 
 
 A d j us t m ent  D ue t o Merger,  C o nso l i da ti on . ,  E t c.
 
 Ad j us tm ent  D ue  t o  D i s t r i b u t i on.
 
 A d j u s tm ent  D ue  t o  D i l u ti ve  Issuance.
 
 
  
 
 
 
 
 
  
  
 Purchase  R i gh ts
 
 
  
 
 
 
 
 
 N o ti ce  of  A d j u s t m en t s.
 
 T rad i n g  Market Li m it a t i ons.
 
 S t a t us  as Sh a r e h o l d e r .
 
 
 
 
  
 
 
 
 
 
 Prep a y m ent i n Fu l l p l u s p l us
 
 p l us, p l u s
 
 
  
 
 
 
 
 
 p l us p l us
 
 p l us p l us
 
 
  
 
 
 
 
 
 p l us p l us
 
 p l us p l us
 
  
 
  
 
 
 
 
 
 Par t i al  P r e p ay m en t p l us p l us
 
 p l us p l us
 
 p l us p l us
 
 
  
 
 
 
 
 
 p l us p l us
 
 p l us p l us
 
 
  
 
 
 
 
 
 p l u s p l u s
 
  
  
 D i s t r i bu ti ons  on  C ap i t al  S t ock.
 
 R es t r i c t i o n  on  S t ock  Rep u r c hases.
 
 
  
 
 
 
 
 
 B orro w i n g s .
 
 Sa l e  of  A sse t s.
 
 A d vances  and  L oans.
  
  
  
 Fa i l ure  t o  Pay  Pr i nc i pal  o r  In t eres t .
 
 C onvers i on  a nd  t he  Shares.
 
 
  
 
 
 
 
 
 B r e a ch  of C ovenan t s.
 
 B reach  of  R epresen t a t i ons and  W arran t i es.
 
 Re c e i v e r  or Trus t ee.
 
 Judg m e n t s.
 
 B ankrup t cy.
 
 D e l i s t i n g  of  C o m m o n  S t ock.
 
 
  
 Fa il ure  t o  C o m p l y  wit h  t h e  E x change  Ac t .
  
 L i qu i da t i o n .
 
 C essa t i on of  O pera ti ons.
 
 Ma i n t e n ance  of A sse t s.
 
 F i nanc i al S t a t e m ent R es t a t e m en t .
 
 
  Rev e r se  Sp li t s.
 R ep l ace m ent  of  Transfer  A gen t .
 
 C ross - D efau lt .
 
 
 
 
 
 
  ti m es p l us p l us p l us p l us m u l ti p l i ed  by
 
  
 
  
 
 
 
 
 
  
 F a i l ure  or  Indu l gen c e  N ot  W a i v e r .
 
 N o t i ces.
 
      
     
      
 
  
 
 
 
 
 
     
 A m e nd m en t s.
 
 A ss i g n ab i l it y. bonaf i de
 
 Cost  of  Co ll ec t i o n .
 
 G ov e r n i ng f o r u m  non  c onven i ens.
 
 
  
 C er t a i n  Am oun t s.
 
 
  Purchase  A gree m en t .
 N o t i ce  of  Corpora t e  E ven t s.
 
 R e m ed i es.
 
 
 
 
 
 
  
  
  C h i ef  Ex e cu t i ve O f f i cer
 
 
  
 
 
 
 
 
  
 
 
  
 ☐
The Borrower shall electronically transmit the Common Stock issuable pursuant to this Notice of Conversion to the account of the undersigned or its nominee with DTC through its Deposit Withdrawal Agent Commission system ("DWAC Transfer").
 
  
 ☐
The undersigned hereby requests that the Borrower issue a certificate or certificates for the number of shares of Common Stock set forth below (which numbers are based on the Holder's calculation attached hereto) in the name(s) specified immediately below or, if additional space is necessary, on an attachment hereto:
 
      
  A pp l i c a b l e C onvers i on  P r i ce:
   
  
  N a m e: